Hi,
(pixabay image)
I was just a child when the 2008 financial crisis began. I had no idea what the economy was or how deeply it could impact my life. But I vividly remember the distress on my mother’s face. She had lost her job, and we were forced to move into a small, cramped room. Food and clothing became a struggle for us. Even completing my education felt like fighting a big battle for me.
Those were days of deep hardship for my family and friends. Our neighbors and friends’ families were also suffering. It took my mother months to find work again. That experience taught me something painful and unforgettable that financial crises hit hardest those who are already living on the edge.
And now, I fear it's happening again. This time, America seems to be the epicenter once more. The US President Donald Trump’s tariff wars may have been the trigger, but the real build-up began earlier. During the COVID-19 pandemic, the U.S. printed enormous amounts of money, followed by other countries. This oversupply of currency weakened its actual value, reducing the purchasing power of ordinary people like me.
At the same time, governments took on massive debt. According to public data, the United States now owes around $34 trillion that is nearly the size of its entire GDP. I don’t know how such a debt will ever be repaid. Cutting government spending seems like the only possible path for them, but doing so would shrink the economy further, making repayment even harder. It could trigger job losses, income cuts, and a reduction in everyday spending, leading to a vicious cycle.
And there’s more. With the U.S. imposing tariffs on imports, other nations may retaliate as well. It will be worsening the global economy. The firing of government employees under Trump's administration added further strain. I’m not an economist, but I can feel the tremors. Something big is coming, and it’s frightening.
I work in a store. If cost-cutting pressures rise, my job could be on the line. I’ve been jobless before, and the thought of going through that again is terrifying. I worry constantly about my future and about my ability to survive.
I feel helpless. I have a few hundred bucks in cryptos, nothig else. All I can do is pray for myself and for others like me. The rich will likely be shielded through tax breaks and bailout packages. But for people like me, it’s always the same story: hardship, uncertainty, and survival.
May God help us! Amen!
Please upvote my post. I'll be very thankful to you.
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LOHtokens.@erica005, You have received 1.0000 LOH for posting to Ladies of Hive.
We believe that you should be rewarded for the time and effort spent in creating articles. The goal is to encourage token holders to accumulate and hodl LOH tokens over a long period of time.
You shared a deeply personal story about how the 2008 financial crisis affected your childhood , especially the hardship your family faced after your mother lost her job. That experience taught you how financial crises hit the poor and vulnerable the hardest.
Now, you're seeing signs that another major crisis may be unfolding, possibly even worse. You mentioned concerns about the U.S. economy , the huge national debt, the effects of printing too much money during the COVID-19 pandemic, tariff wars, and global economic tension. You're worried that this could lead to job losses, rising costs, and another financial collapse.
But I just want you to stay stronger, despite this, I believe it will be well with Gods children. Thanks for your time
Thank you for sharing your story.
The US and many countries have printed money without a limit, which is the crux of the matter that we are all facing, regardless of where we live in the world. The more that's printed, the more devalued the currency is. It's flat out stealing from the people!
May God help us all; make the best choices that you can, as we all should. Take care! !LADY !LUV !HOPE !INDEED !HBIT !DIY !BBH 🤗💜🌹
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LOHtokens.Use !LADY command to share LOH! More details available in this post.@elizabethbit, you successfully shared 0.1000 LOH with @erica005 and you earned 0.1000 LOH as tips. (2/35 calls)
And you're not alone feeling that way.
The seeds of this economic whirlwind have been planted decades ago. I saw this coming over ten years ago that even my country is assuming more public and private debt that can be reasonably managed.
I made the effort and initiative to learn economics and finances. I am expecting bank failures and high inflation. I made up my mind to be frugal enough to pay down all my debts including my home mortgage and saving as much as I can in gold and silver. I am fortunate to have had some time to prepare. But many of my friends and family didn't.
I will have my hands full.
I remember your dream of having a home with a garden.
Don't stop dreaming about that. @erica005 🤗
I pray for all our girls who face hardship 🙏
!LADY
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LOHtokens.Use !LADY command to share LOH! More details available in this post.@hive-124452, you successfully shared 0.1000 LOH with @erica005 and you earned 0.1000 LOH as tips. (1/50 calls)